STAMFORD, CT – Starwood Hotels & Resorts Worldwide, Inc today announced that it has sold The St Regis, Rome to subsidiaries of Constellation Hotels Holding Limited (“Constellation”) for €110 mil
STAMFORD, CT – Starwood Hotels & Resorts Worldwide, Inc today announced that it has sold The St Regis, Rome to subsidiaries of Constellation Hotels Holding Limited (“Constellation”) for €110 million (approximately $150.7 million USD). Starwood will continue to operate the hotel under the St. Regis brand flag as part of a new long-term management agreement.
“The sale of The St. Regis, Rome further advances Starwood’s asset-light strategy as we continue to seek the right owners and partners to create value for our shareholders and focus on growing our global fee business, and we are delighted to collaborate with Constellation Hotels Holding to ensure the future success of this extraordinary hotel,” said Simon Turner, President of Global Development for Starwood. “With the benefit of favorable market conditions, we are seeing strong interest in our remaining assets from a broad array of investors around the world.”